Garde Capital Inc. Buys New Stake in Chubb Limited (NYSE:CB)

Garde Capital Inc. purchased a new position in shares of Chubb Limited (NYSE:CB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 125 shares of the financial services provider’s stock, valued at approximately $38,000.

Other large investors also recently made changes to their positions in the company. California Public Employees Retirement System lifted its stake in shares of Chubb by 1.1% during the 4th quarter. California Public Employees Retirement System now owns 1,350,381 shares of the financial services provider’s stock worth $373,110,000 after purchasing an additional 14,610 shares during the period. Canopy Partners LLC lifted its stake in shares of Chubb by 94.4% during the 4th quarter. Canopy Partners LLC now owns 4,818 shares of the financial services provider’s stock worth $1,331,000 after purchasing an additional 2,340 shares during the period. Vista Investment Partners II LLC purchased a new position in shares of Chubb during the 4th quarter worth $2,442,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Chubb by 15.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,753,719 shares of the financial services provider’s stock worth $760,853,000 after purchasing an additional 366,559 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Chubb during the 4th quarter worth $1,158,897,000. Hedge funds and other institutional investors own 83.81% of the company’s stock.

Chubb Stock Up 0.5%

Shares of NYSE CB opened at $283.61 on Monday. Chubb Limited has a 12-month low of $251.42 and a 12-month high of $306.91. The company has a market cap of $113.65 billion, a P/E ratio of 13.65, a P/E/G ratio of 3.16 and a beta of 0.54. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $287.89 and a 200 day moving average price of $281.53.

Chubb (NYSE:CB) last announced its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.40. Chubb had a return on equity of 12.37% and a net margin of 15.05%. The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $11.22 billion. Research analysts anticipate that Chubb Limited will post 21.52 EPS for the current fiscal year.

Chubb Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Friday, June 13th will be issued a $0.97 dividend. This is an increase from Chubb’s previous quarterly dividend of $0.91. This represents a $3.88 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 13th. Chubb’s dividend payout ratio is currently 18.67%.

Chubb announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 15th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group increased their price target on Chubb from $303.00 to $304.00 and gave the stock a “neutral” rating in a research note on Monday, April 28th. HSBC raised Chubb from a “hold” rating to a “buy” rating and set a $323.00 price target on the stock in a research note on Wednesday, March 5th. Morgan Stanley upped their price objective on Chubb from $280.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Piper Sandler upped their price objective on Chubb from $310.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Chubb in a report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Chubb currently has a consensus rating of “Moderate Buy” and a consensus price target of $307.53.

Insider Activity at Chubb

In other Chubb news, COO John W. Keogh bought 9,810 shares of the stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $292.99 per share, for a total transaction of $2,874,231.90. Following the completion of the purchase, the chief operating officer now directly owns 247,538 shares of the company’s stock, valued at approximately $72,526,158.62. The trade was a 4.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by insiders.

Chubb Profile

Chubb Limited provides insurance and reinsurance products worldwide. The company's North America Commercial P&C Insurance segment offers commercial property, casualty, workers' compensation, package policies, risk management, financial lines, marine, construction, environmental, medical risk, cyber risk, surety, and casualty; and group accident and health insurance to large, middle market, and small commercial businesses.